Bio-Techne Releases First Quarter Fiscal 2026 Results

Core Insights - Bio-Techne Corporation reported a 1% decrease in net sales for the first quarter of fiscal 2026, totaling $286.6 million, with organic revenue also down by 1% compared to the previous year [6][9][30] - The company experienced a 19% increase in GAAP operating income, reaching $47.7 million, and a GAAP EPS of $0.24, up from $0.21 in the same quarter last year [7][21] - Adjusted operating margin improved to 29.9%, reflecting ongoing productivity and cost containment initiatives [10][24] Financial Performance - Net sales decreased by 1% to $286.6 million, with organic revenue also down by 1%, influenced by a favorable foreign currency impact of 1% and an unfavorable impact from businesses held-for-sale [6][9] - GAAP operating income increased by 19% to $47.7 million, with an operating margin of 16.6%, up from 13.8% in the prior year [7][24] - Adjusted EPS remained stable at $0.42, while adjusted operating income rose to $84.2 million from $83.2 million [10][28] Segment Performance - The Protein Sciences segment reported net sales of $202.2 million, a decrease of 1% from $204.5 million in the prior year, with an operating margin of 38.4% [12][29] - The Diagnostics and Spatial Biology segment saw net sales of $79.5 million, down 4% from $83.2 million, but achieved organic revenue growth of 3% [13][29] - The overall operating income for the segments combined was $86.6 million, with a notable increase in the operating margin for the Diagnostics and Spatial Biology segment to 11.2% from 5.1% [31] Strategic Initiatives - The company completed the divestiture of its Exosome Diagnostics business to focus on non-CLIA based product lines, aligning with its growth strategy [9][10] - Bio-Techne's leadership expressed optimism regarding the stabilization of the US academic end market and continued strength from large pharmaceutical customers [3][9] - The company is positioned to leverage its differentiated portfolio of advanced life science tools and reagents to drive long-term value [3][10]